Bail Money

Never mind the fact that six million people left the work force since Obama took office, artificially lowering the unemployment rate.

(CNSNews.com) — The 8.5 percent unemployment rate announced on Friday is in line with the rate the Obama administration forecast if the $825-billion stimulus package did not pass — it was signed into law in February 2009 and, besides funding myriad government projects and more public employees, was supposed to keep unemployment below 8 percent.

Without the stimulus, unemployment was projected to rise to 8.8 percent by the fourth quarter of 2010, according to a report by Christina Romer, then the chairwoman of the Council of Economic Advisors, and Jared Bernstein, then the chief economist for Vice President Joe Biden.

“In the absence of stimulus, the economy could lose another 3 to 4 million more [jobs],” said the January 2009 report by the Obama administration. “Thus, we are working to counter a potential total job loss of at least 5 million. As Figure 1 shows, even with the large prototypical package, the unemployment rate in 2010Q4 is predicted to be approximately 7.0%, which is well below the approximately 8.8% that would result in the absence of a plan.”

The 8.5 percent is the lowest rate since February 2009, when President Barack Obama took office in January with a 7.8 percent unemployment rate. However, the unemployment rate has steadily risen since the president was in office.

heard Levin railing about this (catch his show when i can on the computer)

unemployment was WHAT when Bush took office?

8.5 (skewed) is the lowest it’s been since obbutma took office. and they say it like it’s a good thing.

bitterly clinging infidel

@ Sentinel

Forgot a major culprit: ATM machines

ordman

If you take into account those people who have given up looking for work, which the U.S. government does not do. Then you come up with the real number of 15.6%unemployment rate as apposed to 8.5%.

How Many Murdered With Fast and Furious Guns?

The official Obamunist position is that the “stimulus” is one of Obama’s mistakes. Not because of it, but because he underestimated how much was needed.
Now, of course, he cannot spend more “to bring the economy around” because the republicans won’t let him.
This is the perfect position for the Obamunists. It requires no proof, is entirely based on a manufactured theory, and cannot be disproven. All that is required is an audience hard wired to hate republicans and they’ll have true believers.
Axelrod is a marketing genius. He sold nothing of substance to a majority of voters and now, without anything, has those same people believing that nothing is more. Utterly amazing.

gastorgrab

How is the White House going to deal with all the military were recently put out of a job?

By every indication, the unemployment rate SHOULD go up when they are included in the work force. But will it? Will the unemployment rate magically exclude all former military?

Will Obama try to defer the (recorded) cuts until SOMEONE ELSE’S presidency? (hiding his own failure)

Commieobamie

Looked up failure in a new dictionary: obama.

Sentinel

@gastorgrab

Why WOULDN’T the military be excluded from these numbers? After all, they are pretty much non-citizens and excluded from voting since they are deployed.

Spurwing Plover

WIPE THAT SMILE OFF YOUR FACE YOU GOLDBRICKING LITTLE TWERP!

chuck in st paul

Awwww come on now, everyone knows that this is Boooosh’s evil plan to retake the White House from the Greatest President Ever. The rethuglicans own all the businesses in America and are deliberately not hiring anyone just so they can take expensive vacations to Hawaii while the rest of the country starves.

It must be true. I read it on KOS.

Big Frank

The whole idea of the plan was to purchase votes and ensure that the DemocRAT party remain in office.